Crossmark Global Holdings Inc. Sells 704 Shares of Workday, Inc. (NASDAQ:WDAY)

Crossmark Global Holdings Inc. lessened its holdings in Workday, Inc. (NASDAQ:WDAY) by 18.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,116 shares of the software maker’s stock after selling 704 shares during the period. Crossmark Global Holdings Inc.’s holdings in Workday were worth $761,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. ORG Partners LLC grew its holdings in shares of Workday by 3,717.9% during the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after buying an additional 3,123 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Workday by 42.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 13,380 shares of the software maker’s stock valued at $3,649,000 after purchasing an additional 3,965 shares during the period. Vanguard Group Inc. raised its stake in shares of Workday by 2.2% in the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after purchasing an additional 324,540 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after purchasing an additional 118,180 shares during the period. Finally, Atria Investments Inc boosted its position in Workday by 19.3% in the third quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock valued at $10,833,000 after buying an additional 7,175 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Down 4.4 %

WDAY stock opened at $259.41 on Friday. The company has a market cap of $68.74 billion, a price-to-earnings ratio of 46.07, a PEG ratio of 5.49 and a beta of 1.35. The firm has a 50-day moving average of $246.64 and a two-hundred day moving average of $236.52. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the business posted $0.40 earnings per share. The firm’s revenue was up 16.5% compared to the same quarter last year. As a group, analysts forecast that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Bank of America upped their target price on Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Loop Capital lifted their price target on Workday from $255.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday. Finally, The Goldman Sachs Group upped their price objective on Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $287.59.

Insider Activity at Workday

In related news, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $241.85, for a total value of $442,101.80. Following the completion of the transaction, the director now directly owns 8,674 shares in the company, valued at approximately $2,097,806.90. This represents a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total value of $738,934.52. Following the completion of the sale, the insider now owns 85,795 shares in the company, valued at $20,228,745.10. This represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 370,575 shares of company stock valued at $91,506,897. 20.00% of the stock is owned by company insiders.

About Workday

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.